Skip to comments.
Obama: New Powers needed in Financial Area
AP ^
| 3/19
| MARTIN CRUTSINGER
Posted on 03/21/2009 10:16:32 AM PDT by BarnacleCenturion
Obama said Wednesday his administration will soon propose new financial industry oversight that includes a "resolution authority" that would have powers similar to those of the Federal Deposit Insurance Corp., which can seize control of banks, take over their bad assets and sell the good ones to competitors.
Administration officials did not provide any details on how the new resolution authority would be financed. That could be a key sticking point in Congress.
One official at a banking industry trade group in Washington said the Obama proposal raises concerns about the possible "nationalization" of banks.
(Excerpt) Read more at google.com ...
TOPICS: Breaking News; News/Current Events
KEYWORDS: 111th; agenda; banking; bho44; fdic; freemarketthreat; miserablefailure
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61-80 ... 101-112 next last
To: BarnacleCenturion
YES, Brain power would be nice.
To: BarnacleCenturion
I’ve thought from the beginning we do an RTC type thing where management and owners of the failed institutions get nothing and the taxpayers get back most or all of thier money from the sale of the assets at market prices to healthier buyers.
3
posted on
03/21/2009 10:19:56 AM PDT
by
Woebama
(Paying for my neighbor's mortgage and Wall Street's bonuses sure is hard.)
To: BarnacleCenturion
Isn’t this pretty much the classical definition of economic fascism?
4
posted on
03/21/2009 10:20:58 AM PDT
by
facedown
(Armed in the Heartland)
To: BarnacleCenturion
Is lord Zero suggesting another czar?
5
posted on
03/21/2009 10:22:04 AM PDT
by
cripplecreek
(The poor bastards have us surrounded.)
To: BarnacleCenturion; PAR35; TigerLikesRooster; bamahead; djsherin
However, the government did not have such powers when it came to AIG, forcing the government to pump tens of billions into the company, which then funneled money to its trading partners, such as Goldman Sachs and Deutsche Bank.But I thought that insurance was regulated on a state-to-state basis. IMO, what Obama is asking for is further Federal encroachment on the powers of the States (Tenth Amendment).
6
posted on
03/21/2009 10:22:33 AM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: BarnacleCenturion
Buckle up. Things are gonna get ugly from here on out.
7
posted on
03/21/2009 10:22:37 AM PDT
by
Sir Gawain
("Let every man make known what kind of government would command his respect")
To: cripplecreek
8
posted on
03/21/2009 10:22:48 AM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
*Ping!*
9
posted on
03/21/2009 10:23:19 AM PDT
by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: BarnacleCenturion
Wonderful, Geitner, or Barney Frank, can take over a bank on a whim....say one of those days they want too or need too, to cover their own ass.
10
posted on
03/21/2009 10:24:33 AM PDT
by
Kakaze
(Exterminate Islamofacism and apologize for nothing.....except not doing it sooner!)
To: rabscuttle385
Obozo wants government to control everything in other words he wants to be ruler of the world. Oboso is an narcissistic egomaniac.
To: BarnacleCenturion
The band of thugs who inexorably took over the U.S. Government in Ayn Rand's Atlas Shrugged were constantly complaining that they didn't have enough power.
12
posted on
03/21/2009 10:24:51 AM PDT
by
Steely Tom
(RKBA: last line of defense against vote fraud)
To: BarnacleCenturion
Can this encompass all financial institutions? I thought the story I heard said it would expand beyond banks to include all financial institutions, but there is so much information being thrown out there I could be wrong.
To: BarnacleCenturion
As someone said, this is not change and is not new...
Legislature grants Chávez broad new powers to shape Venezuela![]()
LA PAZ, Bolivia: Venezuela's legislature on Wednesday granted President Hugo Chávez the power to rule by decree for 18 months, enhancing his ability to both increase government control over the economy and assert greater personal authority over areas of society he considers crucial to his aspiration to build a socialist state.
http://www.iht.com/articles/2007/02/01/america/web.0201venez.php
To: facedown
You are correct...but don’t question him, he insisted this get passed so it has to be done.
Did you NOT get the literature that you can NEVER question O’s authority and wisdom? /Super sized sarcasm...
15
posted on
03/21/2009 10:28:25 AM PDT
by
phatus maximus
( John 6:29. Learn it, love it, live it.)
To: BarnacleCenturion
16
posted on
03/21/2009 10:29:00 AM PDT
by
maggief
To: BarnacleCenturion
Nah. Better to let them run amok, profit on the way up, and then stick us with the tab on the way down. Again.
17
posted on
03/21/2009 10:30:33 AM PDT
by
Wolfie
To: BarnacleCenturion
Obama, you candy-butted liberty-thievin’ so’s ‘n so’s! I curse yer name!
18
posted on
03/21/2009 10:31:09 AM PDT
by
A. Morgan
(Every night I pray that Rezko and Blago roll over on Obama!)
To: Ev Reeman
To: BarnacleCenturion
When the left constantly screamed about fascism under Bush, I think they were projecting more than anything else. They wanted to have that control.
20
posted on
03/21/2009 10:35:53 AM PDT
by
Red in Blue PA
(If guns cause crime, then all of mine are defective.)
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-60, 61-80 ... 101-112 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson